US consumer prices rose 0.1% in July and 3.4% year-over-year, matching expectations with no major impact on Bitcoin. Approximately 1.79 million BTC, representing 8.93% of circulating supply, carry a cost basis between $62,000 and $65,000, creating a major supply hurdle near break-even for sellers. On Deribit, open interest in $70,000 calls reaches $1.1 billion while $60,000 puts amount to roughly $1 billion. The 30-day implied volatility dropped to 33.8, near the bottom of its one-year range. Bitcoin failed six times to break above $65,000 between August 5 and 10, leaving the cryptocurrency trapped around $63,000.
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